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Totally is selling its publishing activities in order to concentrate on its health-related digital marketing services operations where revenues will more than double this year.
The share price jumped 0.25p to 1.02p, which values Totally at £940,000.
The Jewish News and TotallyJewish.com are being sold for £350,000. These operations lost £8,000 in 2011 because of a weak advertising market. Revenues fell from £1.15m to £974,000.
Clare Thompson becomes chief executive. Former chief executive Daniel Assor remains as an executive director.
The continuing operations increased revenues from £723,000 to £871,000 in 2011 but operating profit fell from £214,000 to £90,000. The new subsidiary Totally Health has won a £1.6m contract with NHS Midlands and East that commenced in February and lasts 12 months. Totally expects to win additional contracts on the back of its experience gained from this initial contract.
Totally reported flat revenues of £1.85m for 2011 but a profit of £86,000 was turned into a loss of £158,000.
Net debt was £456,000 at the end of 2011.
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